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CMIT Solutions acquired by Craftsman Capital

Dallas-based private equity firm Craftsman Capital Partners acquired Austin-based managed service provider CMIT Solutions Inc.

Financial terms of the acquisition were not disclosed.

Craftsman Capital expects the acquisition will position CMIT Solutions for long-term franchise growth, enhanced operations, and capacity to extend its category leadership with an elevated infrastructure, according to a Dec. 21, 2018, news release.

CMIT Solutions CEO Jeff Connally and all of the company's headquarters employees will remain at the company's office in Austin, Texas.